RiverRock Brownfield Infrastructure Fund 1 completes first Italian transaction with the acquisition of nursing home near Rome
RiverRock is delighted to announce its acquisition of a nursing home in Guidonia Montecelio (RM) from Credsec 1 Immobiliare S.r.l. The 80,000 sqm, 480 bed healthcare facility located to the North East of Rome offers diversified healthcare activities including long term care, mental health services, hospice care and dialysis and is fully accredited by the Region Lazio.
The investment will generate attractive, long and steady cashflows through an existing long-term lease agreement with Italian Hospital Group S.p.A., a well-established healthcare operator, with contracts in place to deliver healthcare services on behalf of the Italian national health service. RiverRock Brownfield Infrastructure Fund 1 (RBIF1) will own the entire property and plans to work with the operator to further develop the facility.
This acquisition represents the seventh transaction for RBIF1 and its second asset in the healthcare segment following the investment in the hospital of Vigo in Spain. It further complements its existing highly resilient and cash-yielding portfolio of core infrastructure projects in France, Spain, the Netherlands and now Italy, delivering long-term, stable yield to our shareholders.
Launched in late 2018, RBIF1 specialises in equity participations in small and medium-sized operational core infrastructure assets located in the Euro area. Following completion of this transaction, the fund is almost fully invested, with RiverRock continuing to develop its investment pipeline for a potential successor fund.
RiverRock was advised by Bonelli Erede (Legal and Tax), EY (Financial and Commercial), CBRE (Technical and Valuation), Three Stars Capital Partners (Debt Advisory) and Ambamas Capital (Advisory).
Credsec 1 Immobiliare S.r.l. were advised by Britons Finance Ltd (Financial Advisor) and by a team from MGM Studio Legale (Legal).
About RiverRock www.riverrock.eu
RiverRock European Capital Partners LLP is an alternative asset management firm managing investments in private markets and real assets. It is headquartered in London with offices in Paris, Milan and Madrid. RiverRock is authorised and regulated by the Financial Conduct Authority in the UK.
RBIF1 is a €195.5 million closed-end fund which is domiciled in Luxembourg, managed by RiverRock and regulated by the Commission de Surveillance du Secteur Financier (“CSSF”). RBIF1 invests in core European Infrastructure equity and focuses on government-related infrastructure assets, primarily those with availability-based revenues. The geographic focus is Euro-denominated Western Europe.